VOO vs VUAA: returns, risk and drawdowns compared
Vanguard S&P 500 ETF against Vanguard S&P 500 UCITS ETF (Acc), over the same 6 years (July 2020 to October 2026) with dividends reinvested.
Data updated October 2026
From July 2020 to October 2026, VOO returned 17.1% a year and VUAA 17.0% a year on average, so VOO came out ahead by 0.1% a year. VOO was the more volatile of the two (15.4% against 14.3% a year), and the deepest falls from a month-end high were 23.9% for VOO and 17.0% for VUAA.
The correlation of monthly returns was 0.75: they usually moved together. Over 41 rolling 3-year periods, VOO did better in 49% and VUAA in 51%.
Both funds follow the same index, so differences come mostly from ongoing charges, tracking and how dividends are handled.
VOO trades in USD and VUAA in EUR: each return is in its own currency, so part of the gap reflects the move of the euro against the dollar.
Side by side
| VOO | VUAA | |
|---|---|---|
| Annual return (CAGR) | +17.1% | +17.0% |
| Total return | +172% | +171% |
| Annual volatility | 15.4% | 14.3% |
| Maximum drawdown (month-end) | −23.9% | −17.0% |
| Worst month | −9.2% | −9.1% |
| Best month | +10.9% | +11.4% |
| Positive months | 64% | 59% |
| Best year | 2021: +28.8% | 2021: +41.0% |
| Worst year | 2022: −18.2% | 2022: −14.6% |
| 1-year return | +16.7% | +22.6% |
| 5 years, a year | +12.8% | +13.5% |
| 10 years, a year | — | — |
| Trading currency | USD | EUR |
First nine rows: the same 76 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VOO vs VUAA
Returns by calendar year
| Year | VOO | VUAA |
|---|---|---|
| 2025 | +17.8% | +4.3% |
| 2024 | +25.0% | +33.7% |
| 2023 | +26.3% | +22.1% |
| 2022 | −18.2% | −14.6% |
| 2021 | +28.8% | +41.0% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, VOO or VUAA?
From July 2020 to October 2026, VOO returned +17.1% a year and VUAA +17.0% a year, with dividends reinvested, each in its own trading currency (USD and EUR). Over rolling 3-year periods VOO did better in 49% of cases. Past returns do not predict future returns.
Which is riskier, VOO or VUAA?
Over the same months annual volatility was 15.4% for VOO and 14.3% for VUAA; the deepest fall from a month-end high was 23.9% and 17.0%, and the worst single month −9.2% and −9.1%.
How correlated are VOO and VUAA?
The correlation of their monthly returns was 0.75: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.